News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
More View more
Australian Dollar Edges Higher After Growth In Labor Market

Australian Dollar Edges Higher After Growth In Labor Market

Jimmy Yang,

THE TAKEAWAY: Australian labor market shows growth > RBA rate cut remains a possibility > AUD/USD Higher

The Australian Dollar edged higher against the US Dollar as the Australian economy added 10,300 jobs in June, beating expectations of a flat employment change. Part-time employment led the growth with 14,800 jobs while 4,400 full-time jobs were lost. The unemployment rate printed 5.7 percent over a revised 5.6 percent previously but was in line with expectations of a one percent increase. This rise could be an indication of improving confidence in the labor market, leading more people to begin searching for jobs.

Whether this improvement will compel the Reserve Bank of Australia to change their monetary policy remains unclear. However, Credit Suisse’s gauge on market priced-in outlook remained unchanged, showing investors still expect a 60% chance for an interest rate cut at the next meeting RBA meeting. A rate cut to support economic growth could reduce the Aussie’s appeal to yield-seeking investors and move the pair lower.

AUD/USD (5-Minute Chart)

Australian_Dollar_Edges_Higher_After_Growth_In_Labor_Market_____body_Picture_1.png, Australian Dollar Edges Higher After Growth In Labor Market

Source: FXCM Marketscope

--Jimmy Yang, DailyFX Research Team

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.